Almarzoqi, Raja.
What Matters for Financial Development and Stability? Raja Almarzoqi. [electronic resource] / Raja Almarzoqi. - Washington, D.C. : International Monetary Fund, 2015. - 1 online resource (44 p.) - IMF Working Papers; Working Paper ; No. 15/173 . - IMF Working Papers; Working Paper ; No. 15/173 .
This study aims to identify policies that influence the development of financial institutions as measured across three dimensions: depth, efficiency, and stability. Applying the concept of the financial possibility frontier, developed by Beck & Feyen (2013) and formalized by Barajas et al (2013a), we determine key policy variables affecting the gap between actual levels of development and benchmarks predicted by structural variables. Our dynamic panel estimation shows that inflation, trade openness, institutional quality, and banking crises significantly affect financial development. Our analysis also helps identify potential complementarities and trade-offs for policy makers, based on the effect of the policy variables across the different dimensions of financial development.
1513501178 : 18.00 USD
1018-5941
10.5089/9781513501178.001 doi
Benchmarks
Economy
Financial Development
Financial Markets and the Macroeconomy
Financial Possibility Frontier
General
Congo, Democratic Republic of the
Georgia
Hong Kong Special Administrative Region of China
Nicaragua
What Matters for Financial Development and Stability? Raja Almarzoqi. [electronic resource] / Raja Almarzoqi. - Washington, D.C. : International Monetary Fund, 2015. - 1 online resource (44 p.) - IMF Working Papers; Working Paper ; No. 15/173 . - IMF Working Papers; Working Paper ; No. 15/173 .
This study aims to identify policies that influence the development of financial institutions as measured across three dimensions: depth, efficiency, and stability. Applying the concept of the financial possibility frontier, developed by Beck & Feyen (2013) and formalized by Barajas et al (2013a), we determine key policy variables affecting the gap between actual levels of development and benchmarks predicted by structural variables. Our dynamic panel estimation shows that inflation, trade openness, institutional quality, and banking crises significantly affect financial development. Our analysis also helps identify potential complementarities and trade-offs for policy makers, based on the effect of the policy variables across the different dimensions of financial development.
1513501178 : 18.00 USD
1018-5941
10.5089/9781513501178.001 doi
Benchmarks
Economy
Financial Development
Financial Markets and the Macroeconomy
Financial Possibility Frontier
General
Congo, Democratic Republic of the
Georgia
Hong Kong Special Administrative Region of China
Nicaragua